Restaurants do a large volume of business by credit and debit cards. Suppose Chocolate Passion restaurant had
Question:
National Express credit-card sales . . . . . . . $ 9,300
ValueCard debit-card sales . . . . . . . . . . . 9,000
Suppose Chocolate Passion’s processor charges a 3% fee and deposits sales net of the fee.
Requirement
1. Journalize these sale transactions for the restaurant.
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Req 1 Journal Entry DATE ACCOUNTS AND EXPLANATIONS POST ...View the full answer
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Related Book For 
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
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